Office of Fair Trading


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Office of Fair Trading

an authority established by the FAIR TRADING ACT 1973, to administer all aspects of UK COMPETITION POLICY, specifically the control of MONOPOLIES. MERGERS and TAKEOVERS, ANTICOMPETITIVE AGREEMENTS/ RESTRICTIVE TRADE AGREEMENTS, RESALE PRICES and ANTI-COMPETITIVE PRACTICES. The OFT, headed by the Director General of Fair Trading, collects data on industrial structure, monitors changes in market concentration and merger and takeover activity, and investigates and acts on information received from interested parties concerning allegedly ‘abusive'behaviour in respect of trade practices, prices, discounts and other terms and conditions of sale. Where appropriate, the OFT may decide to refer particular cases for further investigation and report to the COMPETITION COMMISSION. The OFT also has other main responsibilities with regard to the protection of consumers' interests generally, including taking action against unscrupulous trade practices such as false description of goods and inaccurate weights and measures, and the regulation of consumer credit. See CONSUMER PROTECTION. TRADE DESCRIPTIONS ACTS 1968 AND 1972, WEIGHTS AND MEASURES ACT 1963, CONSUMER CREDIT ACT 1974, ESTATE AGENCY ACT 1979. CONTROL OF MISLEADING ADVERTISEMENTS REGULATIONS 1988.

Office of Fair Trading (OFT)

an authority established by the FAIR TRADING ACT 1973 to administer all aspects of UK COMPETITION POLICY, specifically the control of MONOPOLIES/MARKET DOMINANCE, MERGERS and TAKEOVERS, ANTICOMPETITIVE AGREEMENTS/RESTRICTIVE TRADE AGREEMENTS, RESALE PRICES and ANTI-COMPETITIVE PRICES. The OFT, headed by the Director General of Fair Trading, collects data on industrial structure, monitors changes in market concentration and merger and takeover activity, and investigates and acts on information received from interested parties concerning allegedly ‘abusive’ behaviour in respect of trade practices, prices, discounts and other terms and conditions of sale. Where appropriate, the OFT may decide to refer particular cases for further investigation and report to the COMPETITION COMMISSION. The Office of Fair Trading also has other main responsibilities with regard to the protection of consumers’ interests generally, including taking action against unscrupulous trade practices, such as false descriptions of goods and inaccurate weights and measures, and the regulation of consumer credit. See CONSUMER PROTECTION, TRADE DESCRIPTIONS ACT 1968,1972, WEIGHTS AND MEASURES ACT 1963, CONSUMER CREDIT ACT 1974.
References in periodicals archive ?
Nisha Arora, senior director in the Office of Fair Trading services, infrastructure and public markets Group, said: "Preventing progression or graduation not only affects students' educational experience but could also signifi-cantly harm their future employment prospects and ability to pay off their debts."
The Office of Fair Trading hotline for people targeted by fraudsters is 020 7211 8111, or visit www.northeastfraudforum.
Trading standards official Donna Bensley said: "We are pleased that we are doing things right in the Jewellery Quarter and are delighted that the Office of Fair Trading is insisting companies make their terms and conditions fair for customers."
US financial services company Dollar Financial (NASDAQ:DLLR) said it had received approval from the UK Office of Fair Trading (OFT) to proceed with its proposed acquisition of Internet loans provider Purpose UK Holdings Limited.
Its update comes a day after the Office of Fair Trading launched an investigation into five companies offering cash for gold by post.
Data monitor said the end of free banking could become a reality if the current High Court case, which has been brought jointly by eight high street banks and the Office of Fair Trading, went against the banks.
British Airways has admitted collusion with Virgin Atlantic over the price of long haul passenger fuel surcharges (surcharges) and will pay a penalty of [pounds sterling]121.5m ($246) to be imposed by the Office of Fair Trading (OFT).
An Office of Fair Trading study found more than a quarter of e-retailers had a "weak" awareness of regulations.
Littlewoods and Argos now face fines after the Court of Appeal backed an Office of Fair Trading charge that the stores agreed to fix the price of Hasbro toys.
The UK's Office of Fair Trading has issued a warning concerning a new scam that attempts to make businesses pay to register domain names.
Trading standards officers and the Office of Fair Trading warned people to beware of the lottery offers and throw them in the bin.
A United Kingdom watchdog agency, the Office of Fair Trading, has launched an inquiry into the British brewing industry's wholesale beer pricing policy for tied houses.

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